Market Industry Reports (MIR) has published a new report titled “Biobanking Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global biobanking market is estimated to be over US$ 2.1 Billion in 2019. It is anticipated to grow at 7.5% CAGR from 2019 to 2030.
Irreproducibility of research is one of the major factor for the failure of translating basic research results into tangible solutions. For addressing the problem development of biobanks plays a vital role in providing necessary infrastructure for high quality assurance and control measures by providing safe & reliable spaces for storing material which can be used for repeated testing which in turn will lead to trustworthy scientific results. Hence the increasing awareness and concern for development of novel drugs with the support of biobanking is promoting the market growth. Moreover, the rising prevalence of cancer globally is promoting the development of new solutions to fight cancer. For instance, according to World Health Organization, cancer accounted for around 9.6 million deaths in 2018. Hence the increasing setup of cancer biobanks for systematic storage of cancer tissues and associated data is promoting the growth of the market. However, the instability in consistent funding hampers the growth of biobanking Market.
Request Sample Report with Industry Insights of “Biobanking Market” @
Biobanking Market Prominent Players
Some prominent players in the biobanking market include Thermo Fisher Scientific Inc., PHC Holdings Corporation, QIAGEN, Becton, Dickinson and Company, Merck KGaA, Hamilton Company, Tecan Trading AG, Cell&Co, Promega Corporation and Brooks Life Sciences among others.
Regenerative medicines utilizes the body’s growth and healing properties to repair or replace the damaged cells, tissues, or organs. The extensive research in stem cell, developmental biology, bioengineering, material science, and gene editing are important in development of regenerative medicines. Rising government and private funding for research of regenerative medicine is promoting the biobanking market. For instance, in 2017, National Institute of Dental and Craniofacial Research (NIDCR) invested around $52 million in basic, translational, and clinical regenerative medicine research. The increasing application of biobanking for development of regenerative medicines is also contributing in the market growth.
The increasing international awareness for the need of biobanking is promoting the growth of biobanking market. Biobanking plays an important role in advancing biomedical and translational research by providing better opportunities for collection and preservation of biological samples such as blood, tissues, and nucleic acids which are used in research endeavors to discover disease-relevant biomarkers. Moreover, several pharmaceutical companies are investing extensively in drug discovery and developing their pipeline products which requires the application of biobanking. For instance, Novo Nordisk with the support of UK Biobank is discovering novel drug targets for several chronic conditions such as diabetes, cardiovascular liver, kidney diseases and obesity.
Go For Interesting Discount Here:
Asia Pacific is estimated to account for the highest CAGR in biobanking market over forecast period. The improving research infrastructure, emergence of diseases, and increasing adoption of new technologies in this region is contributing to the growth of biobanking market. Moreover, extensive government initiative and investment for development of novel pharmaceutical products is attributed to increasing use of biobanking.
Table of Contents
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecasted Years – 2019 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottom Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecasting Model
- Limitations/Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- GLOBAL BIOBANKING MARKET – ANALYSIS & FORECAST, BY PRODUCT & SERVICE
- Storage Equipment
- Sample Processing Equipment
- Sample Analysis Equipment
- Sample Transport Equipment
- Storage Consumables
- Processing Consumables
- Analysis Consumables
- Collection Consumables
- Services & Software
Have any query? Inquiry here for Customization about report at:
About Market Industry Reports:
Market Industry Reports is a global leader in market measurement & advisory services, Market Industry Reports is at the forefront of innovation to address the worldwide industry trends and opportunities. We identified the caliber of market dynamics & hence we excel in the areas of innovation and optimization, integrity, curiosity, customer and brand experience, and strategic business intelligence through our research.